Nationals MP Kevin Hogan has been made shadow assistant treasurer and financial services minister.

The federal member for Page in NSW takes over from Pat Conaghan, who was dropped after the Nationals – the Coalition junior partner – picked Matt Caravan to become leader.

His appointment was part of a cabinet reshuffle announced last week by opposition leader Angus Taylor. Tim Wilson remains as shadow treasurer.

Mr Taylor says Mr Hogan will use his “extensive experience in the finance sector to help develop sensible economic policies as part of the Coalition team”.

Mr Hogan worked in the financial services sector, including with Colonial, before entering politics.

Financial Advice Association Australia CEO Sarah Abood says Mr Hogan’s background “will give him insight into Australians’ financial advice needs as well as those of the financial advice community.

“We look forward to engaging with Mr Hogan as we continue to work towards a stronger and more sustainable financial advice framework.”